PPMC announces N151.56 ex-depot price for petrol

Motorists queue to buy petrol in Harare, Zimbabwe, October 8, 2018. REUTERS/Philimon Bulawayo

By Edith Ike-Eboh
Abuja, Sept. 2, 2020 The Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporations (NNPC), has announced a new ex-depot price of N151.56k for premium Motor Spirit (PMD) also known as petrol.

It disclosed this in a memo signed by D.O Abalaka of Ibadan Depot to all stakeholders on Wednesday.

The memo with ref number PPMC/IB/LS/020 reads” please be informed that a new product price adjustment has been effected on our payment platform.

“To this end, the price of Premium Motor Spirit is now N151.56k per liter. This is effective sept. 2, 2020.,” it said.

Naija247news reports that ex-depot price is the price marketers buy the product from depot owners.

The PPMC in August, announced an ex-depot price of N138.62k The September price had an increment of N12.94k.